Robotic cleaning systems provider Skilancer Solar Pvt. Ltd has raised an undisclosed amount from incubator and accelerator Venture Catalysts. Skilancer is a startup that provides robotic cleaning systems for solar panels of commercial parks and establishments. IIM Lucknow-incubated Skilancer will use the funding it has raised to invest in design and technology upgrades, as well…
Luxoft, a DXC Technology Company, has announced that it is expanding its collaboration with Microsoft to accelerate the delivery of connected vehicle solutions and mobility experiences. By leveraging the Microsoft Connected Vehicle Platform, Luxoft will enable and accelerate the delivery of vehicle-centric solutions and services that will allow automakers to deliver unique features such as…
Lyons HR, a leading IRS-certified and ESAC-accredited Professional Employer Organization (PEO) with worksite employees in 44 states, announced that it has acquired Acline HR of Punta Gorda, Florida. Bill Lyons, CEO of Lyons HR, said, “The leadership of Acline HR shared our central focus on client satisfaction and improving the client experience. That made this…
In view of the new SEBI rules on corporate governance, it has been observed that over 200 companies are falling short on the deadline to split the roles of Chairperson and Managing director. In 2018, the Indian regulator SEBI advised the top 500 listed companies to appoint a Non-Executive Chairperson on their board. As per…
Adani Ports and Special Economic Zone Limited, India’s largest port developer, operator and the logistics arm of the Adani Group will be acquiring a controlling stake of 75% from the existing shareholders of KPCL. This acquisition will accelerate APSEZ’s stride towards 400 MMT by 2025. Acquisition value of KPCL is approximately Rs.13,500 cr. The purchase…
In the wake of the new guidelines proposed by market regulator SEBI, Wipro Chairman Rishad Premji might lose his executive powers in the tech company after 1 April, as per a TOI report. In 2018, SEBI through its rules had directed the top 500 listed companies in India to ensure that their chairperson is a…
Yalochat, an artificial intelligence-driven customer relationship management (CRM) platform that helps companies build personalized relationships at scale has partnered with Edelweiss Tokio Life Insurance to implement a chat-based personalized HR solution to serve over 4,000 employees across India. Vikas Bansal, Chief Human Resource Officer, Edelweiss Tokio Life Insurance, said, “Our goal is to create an…
Alkem Laboratories Ltd, a multinational pharmaceutical company, is set to acquire assets related to Active Pharmaceutical Ingredient (API) Dronabinol from United States-based AbbVie Inc. for a cash consideration of $10 million. The expected date of completion was set to be on or before 31 st December 2019. As per BSE filing, the company said, “This…
Forum of India Food Importers (FIFI) and North East Entrepreneurs Alliance (NEEA) agreed to build cooperation by signing a Memorandum of Understanding (MoU) during recently organized North East Food Show 2019 by the Government of Meghalaya and SIAL Paris.
Reliance, an Indian multinational conglomerate company, is setup to enter in online grocery shopping store JioMart. A Reliance Retail official confirmed the launch, adding that the company would gradually scale up its presence. The JioMart app can be soon downloaded on apple and android platforms. Currently, web services of JioMart are available in the outskirts…
Flipkart, India’s leading e-commerce marketplace, has partnered with the Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM) under the Ministry of Housing and Urban Affairs, Government of India, to empower skilled yet underserved sections of society by inducting them into e-commerce. Under the MoU exchanged between Flipkart and the ministry, Flipkart will collaborate with…
Lodha Group, which is known to be one of India’s largest property developers, is looking to raise about $210 million by selling bonds to meet its debt repayment obligations due early next year, as per media reports. The group, which has renamed itself as Macrotech Developers Ltd, has been reaching out to overseas investors, including…
The Egyptian Competition Authority (ECA) said on Sunday it had approved ride-hailing group Uber’s acquisition of former regional rival Careem after the regulator agreed to a set of commitments proposed by the U.S.-based service. Uber bought Careem for $3.1 billion in March in a deal expected to close in January 2020. Careem will become a…
ASA International India Microfinance Ltd (ASAI-India) raises €10 million in debt capital from Invest In Visions, a Germany-based impact investor, as per Vccircle report. The overseas borrowing deal marks the first foreign currency transaction for the Kolkata-based microlender, according to a press statement. Vivriti Capital, a customised debt marketplace for institutional clients, was the external…
Hitachi, Ltd. and JR Automation Technologies, LLC (CEO: Bryan Jones, “JR Automation”) announced that Hitachi has completed the acquisition of the robotic SI business mainly operated by JR Automation from funds managed by Crestview Partners (“Crestview”). The agreement to acquire JR Automation was announced on April 23, 2019 (EST) and the companies are pleased to…